BUSINESS BRIEF: Symbotic — Wilmington AI Robotics Automation Tech Company — Now Trading On Nasdaq

Below is a press release from Symbotic, which is headquartered in Wilmington:

WILMINGTON, MA — Symbotic Inc. (NASDAQ: SYM), a leader in A.I.-enabled robotics automation technology, announced that shares of its Class A common stock will trade on The Nasdaq Stock Market under the ticker symbol “SYM.” Symbotic’s trading debut comes after the completion of its business combination with SVF Investment Corp. 3 (“SVF”), a special purpose acquisition company sponsored by an affiliate of SoftBank Investment Advisers. The combined company now operates as Symbotic Inc.

Symbotic is at the forefront of an addressable market opportunity valued at over $350 billion to reinvent warehouse automation and reshape the global supply chain. As a public company, Symbotic can fuel its next growth stage and accelerate its next-generation A.I.-enabled robotics technology to new customers and verticals. Symbotic has proven to its current customers the power of its technology and ability to scale quickly with an industry-leading $11-plus billion in contracted orders.

“Symbotic transforms the supply chain with automation and intelligence so that our customers’ warehouse distribution networks become a competitive advantage,” said Michael J. Loparco, CEO of Symbotic. “As a public company, we have greater capital to scale our platform more rapidly. The ongoing support of SoftBank and all our investor partners will help us transform the industry and innovate faster for the benefit of our customers.”

“Becoming a public company is a significant achievement in Symbotic’s mission to reimagine the warehouse and modernize the global supply chain,” said Rick Cohen, Chairman of the Board of Directors and President of Symbotic. “We have built an exceptional technology platform that is ready to scale. As a public company, we intend to accelerate our growth plans and expand our offerings into new industries. I’m extremely proud of the entire Symbotic team for their unwavering support and thank them for making this milestone possible.”

Over the past 15 years, Symbotic has developed the next generation of robotics technology. The supply chain industry experiences exponential data growth every year, resulting in increasingly complex distribution challenges. Symbotic solves this problem with its end-to-end robotics solution that is powered by a sophisticated data platform with self-learning software that is flexible to changing conditions, transforming the flow of goods of the supply chain for customers.

About Symbotic

Symbotic is an automation technology leader reimagining the supply chain with its end-to-end, AI-powered robotic and software platform. Symbotic reinvents the warehouse as a strategic asset for the world’s largest retail, wholesale, and food & beverage companies. Applying next-gen technology, high-density storage and machine learning to solve today’s complex distribution challenges, Symbotic enables companies to move goods with unmatched speed, agility, accuracy and efficiency. As the backbone of commerce Symbotic transforms the flow of goods and the economics of the supply chain for its customers. For more information, visit www.symbotic.com.

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